All signal, no noise
All signal, no noise
All signal, no noise
Latest insights
Officials in Brussels look at prospects for further EU mechanisms to boost defence spending.
May-15 13:07Fed Chair Powell speaks at Second Thomas Laubach conference at the Board of Governors.
May-15 12:40MNI looks at how local Chinese authorities plan to support their property markets.
May-15 07:18Italian finance ministry officials discuss the country's funding plans.
May-14 11:54MNI speaks to former BOJ executive director in charge of monetary policy and chief economist Kazuo Momma.
May-14 11:09MNI discusses the RBA's future easing path.
May-14 00:09
MNI: EU Plans New US Trade Deal Offer To Open "Serious" Talks

MNI: EU Plans New US Trade Deal Offer To Open "Serious" Talks

MNI INTERVIEW: Fed On Hold Until At Least December - Lacker

MNI INTERVIEW: Fed On Hold Until At Least December - Lacker
Key Events
Calendar
Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the page
MNI: EU Plans New US Trade Deal Offer To Open "Serious" Talks

MNI: EU Plans New US Trade Deal Offer To Open "Serious" Talks

MNI INTERVIEW: Fed On Hold Until At Least December - Lacker

MNI INTERVIEW: Fed On Hold Until At Least December - Lacker
Key Events
Calendar
Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the pageLatest insights
Officials in Brussels look at prospects for further EU mechanisms to boost defence spending.
May-15 13:07Fed Chair Powell speaks at Second Thomas Laubach conference at the Board of Governors.
May-15 12:40MNI looks at how local Chinese authorities plan to support their property markets.
May-15 07:18Italian finance ministry officials discuss the country's funding plans.
May-14 11:54MNI speaks to former BOJ executive director in charge of monetary policy and chief economist Kazuo Momma.
May-14 11:09MNI discusses the RBA's future easing path.
May-14 00:09Newsletter
MNI US MARKETS ANALYSIS - Equities Soften Ahead of PPI, Powell
May-15 10:55MNI DAILY TECHNICAL ANALYSIS - Corrective Cycle In Gold
May-15 10:48MNI US OPEN - Little Prospect of Breakthrough in Ukraine Talks
May-15 09:34MNI EUROPEAN MARKETS ANALYSIS: Busy US Data Day Coming Up
May-15 05:52MNI EUROPEAN OPEN: Australia Jobs Beat Aids Local Yields
May-15 05:20MNI ASIA OPEN: Projected Rate Cut Pricing Continues to Ebb
May-14 20:02MNI ASIA MARKETS ANALYSIS: Yields Climbing Ahead Thursday Data
May-14 19:59MNI US MARKETS ANALYSIS - Light Data Slate Keeps Focus on Fed
May-14 10:56MNI Technical Analysis
S&P E-Minis Trend Needle Points South

FI Market Analysis
Read moreFI Market AnalysisA weekly wrap of some of the key themes/data outcomes for the Asia Pac region.
May 09, 2025 05:50Norges Bank held rates at 4.50% as unanimously expected.
May 08, 2025 01:51The Riksbank held rates at 2.25% as unanimously expected, and introduced a very slight dovish tilt to its guidance.
May 08, 2025 01:45Services Y/Y Exceeds Highest Analyst Estimate
May 07, 2025 01:51FX Market Analysis
Read moreFX Market AnalysisNorges Bank held rates at 4.50% as unanimously expected.
May 08, 2025 01:51The Riksbank held rates at 2.25% as unanimously expected, and introduced a very slight dovish tilt to its guidance.
May 08, 2025 01:45GBP STIRs are little changed this morning, looking through the previously covered Chinese policy easing announcement and reports pointing to the U.S. and UK nearing a trade accord. * SONIA futures flat to +1.5. * BoE-dated OIS is within 1bp of yesterday's closing levels, showing 95bp of cuts through year-end. A reminder that ~88.5bp of cuts were priced through year-end early yesterday after over 100bp of easing was priced over the same horizon last week. * The next 25bp cut is still fully discounted come the end of tomorrow's decision. * An outcome other than a 25bp cut would be surprising but there will be a number of things to watch: any changes to the guidance and the inflation/growth forecast changes, the vote split and the introduction of new scenarios. * For the guidance we expect "restrictive" and "careful" to remain but we question whether "gradual" will be removed and talk through the rationale for this potential change. * On the vote split, consensus expects 8-1 but neither Dhingra nor Mann dissenting for a 50bp cut would be a huge surprise. Taylor or Ramsden are plausible possible dissenters that would be more noteworthy - and any other member voting for a 50bp cut or for Bank Rate on hold would be a huge surprise. * Click for our full preview: https://media.marketnews.com/MNI_Bo_E_Preview_May25_cdd10a1afe.pdf. * Expect macro news flow and cross-market moves to dominate between now and the BoE decision, with little of note on the UK calendar in that period. ------------------------------------------------------------------------------- BoE Meeting SONIA BoE-Dated OIS (%) Difference vs. Current Effective SONIA Rate (bp) May-25 4.200 -25.9 Jun-25 4.064 -39.5 Aug-25 3.861 -59.9 Sep-25 3.721 -73.9 Nov-25 3.560 -89.9 Dec-25 3.510 -94.9
May 07, 2025 06:51A dovish pivot from the MPC is possible, but the market is already partially pricing this.
May 07, 2025 05:44